TORONTO, ONTARIO–(Marketwired – Dec. 22, 2015) – Eastmain Resources Inc. (“Eastmain” or the “Company”)(TSX:ER) is pleased to provide an update on exploration activities at its wholly-owned Clearwater Project, located in James Bay, Quebec. The 2015 exploration program, which includes definition drilling within the Eau Claire deposit, regional trenching and infill drill core sampling, has been successful in extending measured and indicated gold resources within Eau Claire as well as targeting potential satellite open-pit resources well outside the current limits of the deposit.
“2015 work clearly met the objectives of defining additional potentially mineable open-pit and ramp-accessible mineral resources within the Eau Claire gold deposit and the discovery of additional gold resources lateral to Eau Claire. Drilling and sampling results to date demonstrate both continuity and grade of gold-bearing structures extending laterally and vertically beyond currently defined resource domains. Additional high-grade intervals, as well as wider zones of gold mineralization, may add to current resources. Surface exploration also successfully outlined a drill-ready, open-pit target two kilometres east of Eau Claire,” stated Don Robinson, President and CEO of Eastmain.
29 drill holes for a total of 12,837 metres of definition drilling was completed within the upper portion (top third) of the Eau Claire deposit. Assay data from holes 553 to 573 confirms 45 gold-bearing intercepts ranging from 0.50 to 25.6 grams gold per tonne (g/t) over widths ranging from 2.0 to 11.5 metres. 19 assay intervals exceed cut-off grade for underground resources at Eau Claire, with an average grade of 8.78 grams gold per tonne over an average width of 2.78 metres.
Significant Assay Intercepts include:
- 10.4 g/t Au over 2.0 m (Hole 553)
- 9.35 g/t Au over 3.0 m (Hole 556)
- 15.8 g/t Au over 2.0 m (Hole 557)
- 25.6 g/t Au over 2.0 m (Hole 561)
- 5.98 g/t Au over 4.5 m (Hole 566)
- 24.8 g/t Au over 2.0 m (Hole 568)
- 20.4 g/t Au over 3.0 m (Hole 570)
- 6.20 g/t Au over 5.5 m (Hole 572)
2015 drilling confirms the continuation of gold mineralization lateral to current measured and indicated gold resources at Eau Claire. Several half-metre-wide high-grade vein intersections from ten of the drill holes reported herein contain very-fine-grained visible gold and range in grade from 24.5 to 98.8 g/t. For assay data see “Table 1” on our website. Assays are pending for 10 drill holes.
Four drill holes intersected copper-gold-silver mineralization in the upper portion of the Eau Claire deposit over widths ranging from 2.0 to 11.5 metres. These intervals range in grade from 0.14 to 0.60 g/t Au, 7.08 to 13.7 g/t Ag and 0.44 to 1.3% Cu. This copper-gold-silver sulphide zone, which was intersected with comparable grades in previous drilling, comprises a lens of mineralization, up to nine metres thick, which is distinct from Eau Claire veins and associated alterations zones, and may also contribute to future mineable resources.
Infill Core Sampling
Infill sampling confirmed a high-grade interval from hole 131, which assayed 6.65 g/t Au over 5.0 metres, from within the JQ Vein at a depth of 66.0 metres. When combined with assay results from the adjacent P Vein, the intersection provides a composite interval grading 6.75 g/t Au across 13.8 metres, lying within the 450 West Zone open pit. 1,438 infill core samples were taken during the 2015 exploration program. Infill sampling of near-surface intervals within potential open-pit areas may contribute to current mineral resources.
Trenching and channel sampling within the SNL area has enhanced a potential open-pit resource target two kilometres east of Eau Claire. Anomalous gold, detected in 124 of 228 channel samples taken along a newly exposed vein structure, range from 0.50 to 5.91 g/t Au, with an average grade of 1.07 g/t Au. Previous sampling of what may be an extension of this vein structure to the east returned values of up to 20.1 g/t Au over a two-metre interval (including 67.9 g/t Au over a half-metre). The SNL target covers an area approximately 850 metres long by 220 metres wide. Follow-up drilling is definitely warranted.
Optimization studies are currently being undertaken as part of the PEA, which remains on schedule and on budget.
QP and Quality Control
Dr. Donald J. Robinson P. Geo, President and Chief Executive Officer of Eastmain, Qualified Person under National Instrument 43-101 reviewed and approved the scientific and technical data presented in this press release. Dr. Robinson has supervised the work programs on the Company’s properties, visited the properties on multiple occasions, examined outcrops, drill core and trenched areas, reviewed results with on-site geological staff and reviewed both the analytical and quality control results.
Eastmain conducts a quality control program for all of its exploration work, to ensure best practices in the industry from sample shipment and preparation to data collection and analyses. Chemical analysis was completed by ALS CHEMEX Laboratories using a 50-gram split with ICP, AA and gravimetric techniques. Internal standards provided by an independent company and blank samples were inserted for quality control purposes.
For further information on the Eau Claire deposit, please refer to the technical report entitled “Technical Report for the Eau Claire Gold Deposit, Clearwater Project, Quebec” dated June 11, 2015 and prepared by SRK, available on SEDAR at www.sedar.com.
About Eastmain Resources Inc. (TSX:ER)
Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, both of which are located within the James Bay District of Quebec. Eau Claire, the Company’s core asset, has superior infrastructure within a favourable jurisdiction and is royalty free. Eastmain also holds a pipeline of exploration projects in this new Canadian mining district. In October, Eastmain was presented with the “Discovery of the Year 2015” award by the Association L’Exploration Minière du Quebec (“AEMQ”).
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including statements with respect to the development plans and growth targets of the Company. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to the timing of completion of the PEA, commencement of the PFS and/or DFS, actual results of current and future exploration activities at the Company’s properties, future developments in the Company’s relationship with indigenous groups, and the potential success of the Company’s future exploration and development strategies. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing, timely completion of the PEA and any PFS and/or DFS as applicable, and risks associated with the exploration, development and mining industry generally such as economic factors as they affect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law.
Dr. Donald J. Robinson
(519) 940-4871 (FAX)
Eastmain Resources Inc.
(519) 940-4871 (FAX)
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